ING Groep NV bought a new stake in Hubbell Inc (NYSE:HUBB – Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 26,910 shares of the industrial products company’s stock, valued at approximately $11,951,000.
Other hedge funds have also recently modified their holdings of the company. Envestnet Asset Management Inc. grew its position in Hubbell by 4.1% during the 3rd quarter. Envestnet Asset Management Inc. now owns 89,729 shares of the industrial products company’s stock worth $38,611,000 after purchasing an additional 3,542 shares during the last quarter. DNB Asset Management AS grew its position in Hubbell by 4.9% during the 4th quarter. DNB Asset Management AS now owns 38,865 shares of the industrial products company’s stock worth $17,260,000 after purchasing an additional 1,832 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S grew its position in Hubbell by 64.0% during the 3rd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 3,879 shares of the industrial products company’s stock worth $1,669,000 after purchasing an additional 1,514 shares during the last quarter. Nordea Investment Management AB grew its position in Hubbell by 1.5% during the 4th quarter. Nordea Investment Management AB now owns 206,382 shares of the industrial products company’s stock worth $92,356,000 after purchasing an additional 2,983 shares during the last quarter. Finally, Perigon Wealth Management LLC grew its position in Hubbell by 32.4% during the 4th quarter. Perigon Wealth Management LLC now owns 16,600 shares of the industrial products company’s stock worth $7,372,000 after purchasing an additional 4,060 shares during the last quarter. 88.16% of the stock is owned by hedge funds and other institutional investors.
Hubbell Stock Down 0.1%
Shares of NYSE:HUBB opened at $476.37 on Monday. The company has a market cap of $25.17 billion, a price-to-earnings ratio of 28.14, a PEG ratio of 2.40 and a beta of 0.91. The firm’s 50-day simple moving average is $502.20 and its 200-day simple moving average is $483.29. The company has a quick ratio of 0.94, a current ratio of 1.58 and a debt-to-equity ratio of 0.54. Hubbell Inc has a fifty-two week low of $380.86 and a fifty-two week high of $565.50.
Hubbell Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 29th will be paid a $1.42 dividend. The ex-dividend date is Friday, May 29th. This represents a $5.68 annualized dividend and a dividend yield of 1.2%. Hubbell’s dividend payout ratio (DPR) is 33.55%.
Analyst Ratings Changes
Several brokerages have issued reports on HUBB. Morgan Stanley raised their price objective on shares of Hubbell from $515.00 to $565.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 11th. Wall Street Zen downgraded shares of Hubbell from a “buy” rating to a “hold” rating in a report on Sunday. Wells Fargo & Company lifted their target price on shares of Hubbell from $530.00 to $560.00 and gave the company an “overweight” rating in a report on Friday, May 1st. Barclays lifted their target price on shares of Hubbell from $481.00 to $503.00 and gave the company an “equal weight” rating in a report on Monday, May 4th. Finally, Stephens lifted their target price on shares of Hubbell from $550.00 to $600.00 and gave the company an “overweight” rating in a report on Monday, May 4th. Five analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $546.25.
Read Our Latest Research Report on HUBB
Hubbell Company Profile
Hubbell Incorporated (NYSE: HUBB) is an industrial manufacturer and distributor of electrical and electronic products serving a range of end markets including commercial and residential construction, industrial, and utility customers. Founded in 1888 by Harvey Hubbell, the company has a long history in electrical innovation and product development and is headquartered in Connecticut. Hubbell designs, manufactures and sells components and systems that enable the distribution and control of electrical power and provide lighting solutions for indoor and outdoor environments.
The company’s offerings span a broad portfolio of products used by contractors, utilities, original equipment manufacturers and facility owners.
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